When it comes to think about Capital Gains tax on your US property there are a few things to consider. The first nice point is that if your profit from the sale is less than $250,000 then you can exclude it from taxable income (if married this is $500,000).
In order for this exclusion to apply there are some terms and conditions attached (as one would expect from the IRS).
The principle one is the two out of five rule.
This states you must have been resident in your home for a minimum of 2 of the last 5 years before the sale was completed. Continue reading How to (legally) avoid Capital Gains tax on your US property